Global rodenticides market projected to reach $1.23 bn by 2022

The global rodenticides market has grown exponentially in the last few years. The market size is projected to reach USD 1.23 Billion by 2022, at a CAGR of around 3.76% from 2016. Factors such as increase in rodent population and prevention of disease transmission caused by rodents are some of the major drivers of this market. Emerging countries such as India, Japan, and China are the primary targets of the industry as they demand hygienic environmental conditions.
 

The rodenticides market, on the basis of type, has been segmented into non-anticoagulant, coagulant, and others (phosphides). The non-anticoagulant rodenticide segment is projected to grow at the highest CAGR during the forecast period. Increase in the demand for quality produce and reduction in losses of commodities due to rodent infestation led to the growth in demand for rodenticides.
 

The rodenticides market, based on end user, has been segmented into agricultural fields, warehouses, pest control companies, urban centers, and household consumers. The importance of rodenticides is increasing as it helps in eradicating rodent infestation and maintaining rodent population to minimum levels. The pest control companies segment accounted for the largest share of the rodenticides market in 2015, as there is an increase in demand for pest control service providers. The household consumers segment in the rodenticides market is projected to grow at the highest CAGR from 2016 to 2022.
 

The market has been segmented on the basis of method of application into pellets, sprays, powders. The pellets segment is projected to grow at the highest CAGR from 2016 to 2022. Pellets method of application is more efficient in eradicating the rodents.
 

The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period. Increase in availability of pest control service providers in China and India and rise in awareness about the use of rodenticides are expected to lead to increased demand in the Asia-Pacific market. Regulatory changes such as environmental protection laws and changing government policies across diverse regions are a restraint for rodenticides market players.
 

The strict and rigorous regulatory requirements in the environmental protection sector are applicable to production processes and environments, which restrict the production of rodenticides products.
 

The rodenticides market is characterized by moderate competition due to the presence of a number of large- and small-scale firms. The market is dominated by players such as BASF SE (Germany), Bayer AG (Germany), Syngenta (Switzerland), Rentokil Initial plc (U.K.), and UPL Limited (India). These collectively accounted for the largest portion of the rodenticides market in 2015. New product launches, acquisitions, agreements, and expansions are the key strategies adopted by players to ensure their growth in this market. Other players, such as Neogen Corporation (U.S.), Bell Laboratories (U.S.), Liphatech, Inc. (U.S.), Impex Europa S.L. (Spain), and SenesTech, Inc. (U.S.), also have a strong presence in this market.